Mantra Agrees to A$1.18 Billion Takeover by France’s Accor

The proposed takeover builds on the merger activity in the industry in recent years

David Winning

SYDNEY—Mantra Group Ltd. (MTR.AU) said it has agreed to a more than US$900 million cash offer from France’s Accor SA (AC.FR), bringing together the two largest hotels groups in Australia.

The proposed takeover builds on the merger activity in the industry in recent years as hotel companies have sought increased scale to fend off aggressive home-rental companies and online travel agents. Mantra has more than 125 properties across Australia and New Zealand and a growing footprint in Indonesia and Hawaii.